George Soros Donates $18 Billion to Open Society Foundation

High Net Worth Individual

George Soros is a high net worth individual whom found success in trading and has decided to give back to the world. A substantial portion of his net worth comes from a bet against the British Pound in 1992 which resulted in major gains. Recently, George Soros donated $18 Billion to the Open Society Foundation, in a move designed to transform philanthropy. This huge donation makes the Open Society Foundation the second largest US philanthropic grant making group behind the Bill and Melinda Gates Foundation. For the Open Society Foundation, this means that George Soros has provided $30 Billion in funding directly from his fund to the Open Society Foundation.

Funds Directly From Soros Fund Management

The donation comes directly from Soros’ hedge fund, Soros Fund Management LLC. This amount is larger than the total amount that the nonprofit has given away since 1979, which amounts to $14 Billion. Soros also hugely contributed to Hillary Clinton’s campaign for President. Dawn Fitzpatrick also was hired from UBS to serve as the Chief Investment Officer for Soros Fund Management LLC which also manages the Open Society Foundation endowment.

Aim to Build Vibrant, Thriving Societies

The Open Society Foundation aims to build vibrant, thriving democracies with an aim to make government accountable. The organization acts globally, working on specific issues to promote better governments. The aim is to support those fighting for freedom of expression and accountable government. Much of Soros’ inspiration for the Open Society Foundation comes from his experiences in Hungary in early life.

Born in 1930, Hungary

George Soros was born in 1930, and as a result he lived through Nazi occupation that led to the deaths of 500,000 Jewish people. He survived with his family by using false papers, but leaving for London in 1947 and the United States in 1956. He launched Soros Fund Management in 1970, beginning his philanthropic efforts shortly after in 1979. Soros even created the Central European University for the purpose of fostering critical thinking in Europe. His first philanthropic efforts provided scholarships to students in South Africa to study under Apartheid. Respect for individual rights.

Open Society Foundation Focused on Few Key Areas

In the United States, the Open Society Foundation has focused its efforts on a few key areas: black male achievement, criminal justice, discrimination, drug policy reform, and national security/counter terrorism. Specifically with regard to counter terrorism, the open society foundation is focused on human rights violations. Terrorism has been attributed to income inequality, globalization, and disaffection.